15 Israeli software firms were bought during 2005 by foreign companies

The Israel Association of Software Houses & Israel Association of Electronics & Information Industries informed last week that foreign companies bought, during 2005, 15 Israeli software companies for an aggregate sum of $500m.
 
In a detailed joint press release the two associations said that Israeli software exports are forecast to grow by 6% in 2005 to $3.18 billions, compared to last year.
 
Domestic sales of software will rise this year by 8% to the level of $970m.
 
Total software sales will rise by 6.4% to $4.15 billions.
 
The two associations pointed out that in the past decade some 30 Israeli software companies, with a turnover of at least $30m each and an aggregate turnover of $6b, have been sold.
Following the release of the joint statement local software industry sources estimated that total software sales can be doubled to $8b within a decade.
 
They added that the added value of software companies is well over 90%. Industry sources noted also that some 2,000 start-ups are currently operating in Israel. Half of them are in software, compared with 1,800 start-ups a year ago.